Gulf LNG Terminal Officially Opens
After three and a half years of construction - $1.1 billion facility GE Energy Financial Services, a unit of GE, announced that its co-owned Gulf LNG regasificationand liquefied natural gas storage facility on the Gulf of Mexico has successfully begun operations.GE made the announcement at a ribbon-cutting ceremony at the facility in Pascagoula, Mississippi, joined by Gov. Haley Barbour and executives of El Paso Corporation."After three and a half years of construction, this $1.1 billion facility was completed on-time and on-budget and forms an important part of our nation's energy infrastructure," said Dan Castagnola, a managing director of GE Energy Financial Services in Houston. "Our co-ownership of this facility reflects GE Energy Financial Services' strategy of supporting long-term, critical infrastructure projects that help meet energy demand and draw on GE's strengths and expertise in energy."The terminal, operated by a subsidiary of El Paso Corporation, is located adjacent to the Bayou Casotte Ship Channel in the Port of Pascagoula on the Gulf Coast. It receives, stores and regasifies - turns back into gas - imported liquefied natural gas, known as LNG. The terminal consists of two 160,000 cubic meter storage tanks with a combined capacity of 6.6 billion cubic feet (Bcf); ...
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